The price of gold rose slightly! How much is the gold price per gram in major gold stores on November 30, 2022?

The price of gold rose slightly! How much is the gold price per gram in major gold stores on November 30, 2022?

On Wednesday (November 30), the international gold price rose slightly, helped by the decline in the dollar. The overall domestic gold price remains unchanged today. Laomiao gold price is reduced by 1 yuan, Chow Tai Sang gold is raised by 9 yuan, and the gold price of other gold stores remains unchanged. This is the gold price on the official website of the gold store today, for reference only:

Gold shop offer

gold price today

unit

range of change

ups and downs

old temple gold price

522

Yuan/gram

1

fall

Luk Fook Gold Price

530

Yuan/gram

0

flat

Chow Tai Fook Gold Price

530

Yuan/gram

0

flat

gold price on saturday blessing

531

Yuan/gram

0

flat

Gold Supreme Gold Price

530

Yuan/gram

0

flat

Laofengxiang gold price

531

Yuan/gram

0

flat

Tide Acer Gold Price

502

Yuan/gram

0

flat

chow sang sang gold price

528

Yuan/gram

0

flat

Caibai gold price

517

Yuan/gram

0

flat

China Gold Price

488

Yuan/gram

0

flat

Chow Tai Sang Gold Price

526

Yuan/gram

9

rise

In general, investors are mainly focused on the upcoming speech by Federal Reserve Chairman Powell to understand the Fed’s future monetary policy path. ADP employment data, which will be released before Powell’s speech, is also in focus.

At 15:15 Beijing time, spot gold rose 0.35% to $1,755.71 an ounce; the main COMEX gold futures contract rose 0.29% to $1,768.9 an ounce; the U.S. dollar index fell 0.21% to 106.581.

Federal Reserve Chairman Jerome Powell will speak on the U.S. economic outlook and job market at 2:30 Beijing time on Thursday (December 1), and investors will look for any new clues about the Fed’s plan to raise interest rates next year.

The greenback’s latest slide could also be linked to weaker U.S. data. The Conference Board Consumer Confidence Index released overnight in the United States in November fell to 100.2, the expected value was 100, and the previous value was revised down from 102.5 to 102.2.

ADP employment data, which will be released before Powell’s speech, is also in focus. According to preliminary estimates, the U.S. ADP employment population will increase by 200,000 in November, lower than the previous value of 239,000. The job market will face the impact of rising interest rates, which have forced companies to pause hiring amid growing expectations of an economic slowdown.

ED&F Man Capital Markets analyst Edward Meir said Powell’s speech was the main focus of the market. “If Powell takes a hawkish stance, the dollar will strengthen and gold could go back to $1,745. But if he sounds more dovish, gold could go to $1,780.”

This year, the high interest rate environment has constrained the non-yielding asset gold’s traditional status as a hedge against surging inflation and other uncertainties, as the opportunity cost of holding bullion has become higher.

Economists at TD Securities predict: “Despite the recent rise in gold prices, the continued sharp rise in short-term U.S. real and nominal interest rates is expected to push gold prices down to $1,575 an ounce in the first quarter of 2023. After the first quarter, gold prices are likely to Starting to move up towards over $1,800 as the Fed’s tightening cycle is drawing to a close and the market is starting to price in an imminent rate cut.”